Wednesday, October 24, 2018

Tata Sons, Singapore Airlines pump Rs 20 bn into Vistara for expansion

Tata Sons and Singapore Airlines have pumped Rs 20 billion into Vistara as the airline charts its expansion plan.

This is the largest single dose of equity infusion into the joint venture (JV) since its launch in January 2015. It will help Vistara finance its $3.1 billion (around Rs 220 billion) aircraft order.

The airline’s board passed a resolution for issuing capital in August. Fresh shares were issued to the two promoters earlier this month, filings with the corporate affairs ministry show.

The investment signals the Tata group's ambition to propel its aviation business. This comes amid firming of its control in AirAsia India and talks with Jet Airways to buy a stake in the latter.
24/10/18 Aneesh Phadnis/Business Standard

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